Cross-chain Infra Startup Router Protocol Raises $4M From Web 3.0 Investors
Router Protocol, a web 3.0 cross-chain infra project, today announced a $4.1 million token sale fundraise from Coinbase Ventures, Woodstock Fund, De-Fi Capital, Polygon, Wintermute, TeraSurge Capital, Maple Block, QCP Capital, Alameda Research, Shima Capital, and Bison Fund, and more.
Leading angel investors including, Polygon’s Sandeep Nailwal, Doordash’s Gokul Rajaram, and Aave’s Ajit Tripathi, also participated in this funding round.
Router Protocol | Enabling Seamless Cross-blockchain Liquidity
Founded by Ramani Ramachandran, Shubham Singh, Chandan Choudhury, and Priyeshu Garg in 2020, Router Protocol is developing the bridging infrastructure to allow the contract level data flow across various blockchains, thus enabling asset-level data transfer.
The Singapore-headquartered project claims to be unique, with zero asset fragmentation, support for the transfer of any form of generic data, 1-N bridges instead of 1:1 bridges for enhancing scalability, and infrastructure for allowing other DApps to utilise its cross-chain functionalities.
Speaking on the development, Ramani Ramachandran, CEO of Router Protocol, said,
“Our vision is to build Router Protocol aggressively into a class-leading, cross-chain communications infrastructure project. Going forward, there will be several Layer 1, Layer 2, roll-up based and non-rollup based blockchains seeing adoption, so it will be important for all of them to communicate with each other through cross-chain efforts.”
Ramani Ramachandran added that the investors involved have been “deeply involved, hands-on, in the design and development of Router as well as Dfyn (a multi-chain decentralised exchange).
The startup has been building cross-chain infrastructure that enables the communication between current and emerging Layer 1 and Layer 2 blockchain solutions. Facilitating seamless cross-chain liquidity flows, the Singapore-headquartered project had earlier received grants from Terraform Labs and Algorand Foundation.
With Router v2, Router Protocol will deploy a dedicated application-specific blockchain that will enable transparent accounting for overall actions carried out by the protocol across chains. Additionally, the team at Router has also built Dfyn, a popular DEX (decentralised exchange) on Polygon.
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